Chapter Three Regulation
and the Powers of the
Commissioner Exam
Questions and Complete
Solutions Graded A+
[Document subtitle]
Denning [Date] [Course title]
, Subpoenas in connection with any investigation, hearing or other proceeding governed by the New
Jersey Insurance Producer Licensing Act may only be issued: - Answer: For good cause
Each of the following are responsibilities of the Commissioner of Banking and Insurance, except: -
Answer: To provide training curriculum and courses to all candidates to enable them to obtain title
insurance producer licenses
If, after a hearing, the Commissioner determines that the method of competition or the act or practice
in question is an unfair method of competition or any unfair or deceptive act or practice as defined in
the New Jersey statutes and that the person complained of has engaged in the method of competition,
act or practice in violation of New Jersey law, the Commissioner will then: - Answer: Make his or her
findings in writing and issue and cause to be served upon the person charged with the violation an order
requiring the person to cease and desist from engaging in the method of competition, act or practice.
The Commissioner has authority to use any final or preliminary examination report, any examiner or
company workpapers or other documents, or any other information discovered or developed during the
course of the examination: - Answer: In the furtherance of any legal or regulatory action which the
Commissioner may, in his or her sole discretion, deem appropriate.
When making an examination, the Commissioner may retain attorneys, appraisers, independent
actuaries, independent certified public accountants or other professionals and specialists as examiners.
The cost for the professionals' or specialists' services are borne by: - Answer: The company that is the
subject of the examination
A producer's license may be revoked if the producer fails to notify the Commissioner within _____ days
to the producer's conviction of any crime, indictment or the filing of any formal criminal charges, or the
suspension or revocation of any insurance license or authority by a state, other than New Jersey. -
Answer: 30 days
Seth is a title insurance producer who works for a title company that is being investigated for illegal
rebating practices. Seth asks to be excused from testifying in the hearings related to the investigation on
the grounds that the testimony may tend to incriminate him. The court compels his testimony. Seth: -
Answer: may not be prosecuted or subjected to any penalty or forfeiture for or on account of any
transaction, matter or thing about which he testifies or produces evidence
If the Commissioner finds that a person engaged in a method of competition, act or practice in violation
of New Jersey law, the Commissioner may order payment of a penalty not to exceed _____________ for
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